Cousins Properties (NYSE:CUZ) Announces Earnings Results, Misses Expectations By $0.61 EPS

Cousins Properties (NYSE:CUZ) announced its earnings results on Thursday. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61), Zacks reports. The firm had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a return on equity of 1.30% and a net margin of 7.25%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.75 EPS. Cousins Properties updated its FY24 guidance to $2.63-2.68 EPS and its FY 2024 guidance to 2.630-2.680 EPS.

Cousins Properties Trading Up 8.2 %

Shares of CUZ stock traded up $2.06 during mid-day trading on Friday, reaching $27.24. The company’s stock had a trading volume of 2,703,780 shares, compared to its average volume of 1,132,019. The company’s 50 day simple moving average is $23.40 and its 200-day simple moving average is $23.26. Cousins Properties has a 12-month low of $17.40 and a 12-month high of $27.30. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $4.14 billion, a PE ratio of 55.59, a price-to-earnings-growth ratio of 4.52 and a beta of 1.30.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, July 3rd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.67.

Insider Activity

In other news, CFO Gregg D. Adzema sold 71,097 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total value of $1,657,271.07. Following the transaction, the chief financial officer now owns 85,872 shares of the company’s stock, valued at approximately $2,001,676.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Cousins Properties Company Profile

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.